Where are all the Action #1's?

[thecomicsheet]

Has anyone ever seen a genuine Action #1 go up for sale on ebay in any condition?

 

I wonder what a VG would sell for on the open market.

 

I've seen 3 on eBay the last year. I think they were all Heritage auctions being simultaneously run on eBay. They were:

CGC 5.0 RESTORED 3/8/03 $43,000

CGC 4.5 NICOLAS CAGE COPY 10/10/02 $75,000

CGC 2.5 7/4/02 $37,000

 

[comicmankev]

How come none of them show up on their 'past auction' research page?

[rob_react]

How come none of them show up on their 'past auction' research page?

 

They do for me. Search "Action 1" in "Golden Age" and include "items not sold." The 2.5 and 5.0 copies didn't sell, so you have to make sure to check that off to see those. The 2.5 copy was listed twice.

[comicmankev]

Sorry, they do! I've been replying to to many posts, was actually talking about DC27!

[rob_react]

to see the 'Tec 27s, you have to make sure to check off "include unsold items" as well, since they've never actually sold one.

[sborock]

""If I was buying from a major auction house (and I don't include Heritage here), a restoration check and grading is part of their service so the need for CGC is mute."

 

The "Major" auction houses have UNKNOWINGLY sold restored key comics as unrestored and/or with a page missing that CGC has caught after the fact. I get to here this first hand when these things are detected by us because the submitter calls to complain every time this happens. That is one of the reasons that Jerry Weist used CGC for the last few live and internet sotheby's auctions.

[Rip]

Steven, I'm sorry but I could not resist asking you this question.

 

If this book linked below (Action 1) was to come back for resubmission would you lower the grade or do you consider this kind of damage perfectly acceptible in your idea of a G+.

 

http://www.grahamcrackers.com/shopping/shopexd.asp?id=27525

[awe4one]

The "Major" auction houses have UNKNOWINGLY sold restored key comics as unrestored and/or with a page missing that CGC has caught after the fact. I get to here this first hand when these things are detected by us because the submitter calls to complain every time this happens. That is one of the reasons that Jerry Weist used CGC for the last few live and internet sotheby's auctions.

 

Oh I'm sure its happened and is not confined to just comicbooks. CGC has also missed restoration if some of Nic Cage copies bought through Heritage and resubmitted are any indication. If restoration is detected then the auction house becomes liable. It's not like a buyer has no recourse.

 

So are you also saying that Weist is using CGC as the auction house's restoration detector?

 

 

Jim

[PovertyRow]

""If I was buying from a major auction house (and I don't include Heritage here), a restoration check and grading is part of their service so the need for CGC is mute."

 

The "Major" auction houses have UNKNOWINGLY sold restored key comics as unrestored and/or with a page missing that CGC has caught after the fact. I get to here this first hand when these things are detected by us because the submitter calls to complain every time this happens. That is one of the reasons that Jerry Weist used CGC for the last few live and internet sotheby's auctions.

 

I have to lay blame on the auction houses. We all know their names and they ARE major - but if they do not have the facilities to detect restoration they should be relegated to the minor leagues!

[sborock]

[quote

Oh I'm sure its happened and is not confined to just comicbooks. CGC has also missed restoration if some of Nic Cage copies bought through Heritage and resubmitted are any indication. If restoration is detected then the auction house becomes liable. It's not like a buyer has no recourse.

 

So are you also saying that Weist is using CGC as the auction house's restoration detector?

 

 

Jim

 

Yes, Jerry used CGC for resto detection and grading for all "major" pieces in the last few auctions.

 

Which "Nic Cage" books were re-submitted and then had restoration found by CGC that you think we missed? I have not heard this. Can you please show me examples?

[awe4one]

Here's an example:

 

Marvel Mystery #9

 

 

Jim

[sborock]

Are we on the same page? Please explain.

[awe4one]

The first time the Larsen capy was submitted and offered by Heritage, CGC annotated the copy with a purple label as having slight restoration.

 

 

The second time it was submitted it was given a blue label. No restoration noted and the 88 penciled in the top right corner is now gone.

 

 

 

Jim

[sborock]

I can almost guarantee you that the resto was removed before re-submission, just like many comics we see after resto has been detected by CGC.

 

The erasure of anything is not considerd resto by CGC, Overstreet, or any major dealer I know.

[Shield]

Doesn't that book look as if it's been cleaned as well? The foxing doesn't appear as severe.

Unless...someone did the "Wonder Bread" trick...

[Arty]

I'm sure that it was unrestored (glue was scraped off) before resubmitting.

 

But I'm curious why spine removal isn't considered restoration?

(as was done in this Marvel Mystery 9)

 

My suggestions: Spine roll removal without book disassemble (

how it's done?pressed?)= unrestored?

 

Spine removal with book disassemle= restored?

 

The erasure of anything is not considerd resto by CGC, Overstreet, or any major dealer I know.

 

Finally this is official!

 

 

 

 

 

[Arty]

Doesn't that book look as if it's been cleaned as well?

 

It's probably not cleaned, scanner settings are totally different.

[ArAich]

I can almost guarantee you that the resto was removed before re-submission, just like many comics we see after resto has been detected by CGC.

 

The erasure of anything is not considerd resto by CGC, Overstreet, or any major dealer I know.

 

With all due respect Steve....the thing that stands out as far as this book and the above quote is that the book in question had the proffesional restoration removed and thus recieved a higher grade when re-submitted....I though proffesional restoration was to improve the condition of the book???

[sborock]

If the book has had creases pressed out, it could possibly receive a higher grade even with resto removed. Once again, this is an educated guess because I very rarely remember a book I have graded.

[Shield]

Not to take sides in this but:

 

1. First of all, CGC did in fact NOT miss catching the restoration. They caught it the first time, right? Once it came through again, it no longer existed, so they called it correctly both times, right? Seems to me the questionable thing here is Heritage employees bidding on their own books they sell, having the restoration removed, and re-submitting it. This is the true "crime" if there is one in this situation..

 

2. In a totally unrelated point, I've often read about people on here with books that have been resubmitted with different grades. Do this: Take 15 books from your collection, and number them 1-15, and affix a numbered sticker on the back of each book. If you had 15 similiar books (i.e. all modern) that would probably work best. Thoroughly grade each copy, and write down your own assigned grade to each book. Now, wait 6 months, pull out each book in random order, and grade each one. Write the results on a seperate sheet of paper, and DO NOT look at the first one. NOW compare those two grading lists. I "GUARANTY" you won't grade all 15 identically the 2nd time around.

Something for you to think about.

 

3. My only beef with CGC grading is the fact of which type of tape is considered restoration. I could tape up a spine split with destructive scotch tape and still get a "blue" label, but if I use non-desctructive removable archival tape it'll get a "Apparent Slight (P)" restored grade. Archival tape won't break down and eat into the paper 20 years later, and is much safer for the preservation on the book. I guess another beef I have is some books geting blue labels even with slight color touch. It's each been touched up, and restored, or it isn't. Pretty black and white and far as I'm concerned, no matter if the consequences result in a Action #1 being worth $100,000 as a blue label vs. $25,000 being purple.

 

I only echo my thoughts here because I know Sborock is reading this thread.